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Okay. Well, I am still in the GC trade. I ended up adding a second contract on a pullback.
Thanks to Hillary Clinton and Donald Trump, I am not ~$600 in profit.
I am riding this short for as big of returns as I can get!
The chart is very "pretty" and colorful now. I was bored so I marked up the chart a little.
The big magenta box is the FOMC zone. This is what price did after/during FOMC.
Why mark this area? Because the market is always in a certain "state". Sometimes risk-on, sometimes risk-off.
Risk-on is bullish for stocks and commodities. Risk-off is bearish for them.
Post-FOMC was risk-on since they did not raise rates. It was "safe" to invest in equities and commodities.
However, now that prices are back in the FOMC range, it is showing that there is some fear in the market.
So my first target will probably ~32. That will be a ~$1000 win on one contract. I will hold my other for ~24 which is the bottom of the FOMC range. This will be another ~$1800 profit.
I should also mention that I took a $210 loss on GC this morning.
I will post ES and GC recaps tomorrow morning. I was busy watching the debate!
EDIT: Since I am pretty dang pumped about this gold trade, I am unsure how much I will trade today on other things.
Yesterday's recap:
LIVE:
ES: +$275
ZB: N/A
GC: -$210 (closed PnL when I went to sleep)
Totaly Day's PnL: +$30ish after commissions.
As you all know, I am still in a gold trade. I have close one contract for quite a bit of money, and am holding my other for longer. Let's see what I can squeeze from the market!
With the ES, the debate last night is causing price to move. So, hopefully this means some volatility.
This is honestly the #1 chart I am looking at for today on ES.
The magenta box is the FOMC box. Look a few posts higher where I talk about this.
The fact that we erased ALL no-rate-raise gains really shows that there is a LOT of uncertainty in the market.
I want to be short in this market, but M-VWAP has proven to be a decision area for weeks now. M-VWAP and the bottom of the FOMC box are my AoI. I am looking for a move beneath them to ride the move down.
Look at M-VWAP and all the times price turned higher from there. That means that if we break all those lows, we are due for a nice stop-run that could rip some faces off. I can't wait!
Thoughts: ES punched me on the face right away in the morning. I ended up scalping both the long and short side afterwards. This allowed me to recover some of my losses.
I was holding the gold trade ON which played out very nice at the RTH open. I am still in one contract. I honestly am bewildered by how well it is playing out.
I took a ZB long on the thought that since we are in a "risk-off" environment, as well as US being the only safe place right now (JPY policy is poo and Europe is clearly struggling. Take a look at Deutsche Bank)
Here is the ZB trade. I took it on a pullback. Aiming for a large target, but since I only have one contract, I may have to be a tad more strict. We shall see.
Here is GC. Still looking very nice. The debate last night really helped me out!
Monthly Pivot is looking like a good resistance at the moment. I hope that we get another leg down ON. We shall see.
